Shangri-La Jeddah opened last year in the 64-storey Burj Assila Residences, overlooking Jeddah's corniche and the Red Sea.
The first property in the kingdom to be managed by Shangri-La, it offers 220 rooms, including 55 suites and 17 luxury serviced apartments, all with private balconies. The interiors carry a nautical theme, to reflect the hotel's beachfront positioning.
The welcome
Checking in is straightforward, with two desks operated by young Saudi women located adjacent to the concierge desk.
Most of the people in the lobby are heading to Shang Palace Jeddah, the hotel's Chinese restaurant. With no crowds or queues, the check-in process is swift. Staff are well-informed and friendly, providing plenty of information about the hotel and its facilities.
Checking in at night further emphasises the lobby's dark interiors — creating a slight lull and immediately disconnecting you from the energy outdoors. The lobby interiors feature contemporary grey marble floors and pillars, paired with a mix of dark wood panels. The atmosphere is quiet and serene, with soft music emanating from Copa, a boutique patisserie in the lobby.
The neighbourhood
Driving up the coast towards the hotel, you can take in stunning views of the Red Sea and Jeddah's corniche, which has recently been revamped.
Shangri-La's positioning directly on the corniche is perfect for tourists; Jeddah's Formula One track is a five-minute walk away, public art sculptures by celebrated international artists are dotted alongside a variety of cafes, shops and restaurants.
The corniche is a coastal strip with theme parks, gaming zones and expansive recreational areas where people can cycle, exercise and skateboard. Shangri-La is located next to the Red Sea Mall, one of the largest shopping malls on the west coast of Saudi Arabia.
It also offers views of the Jeddah fountain and is only minutes away from the floating mosque, another top tourist attraction. In the evenings, you can step straight out of the hotel onto the bustling corniche or dine at Shang Palace, which is often buzzing with diners at the weekend.
The room
My deluxe sea view room also looks over the new Formula One track on Jeddah's corniche, via floor-to-ceiling windows and a private balcony. The 52-square-metre room is cosy enough for two, with a 49-inch smart TV, desk and coffee table. A walk-in closet faces the marble-clad bathroom, which is fitted with a tub and walk-in shower.
The mini bar does not provide many options for kids or adults, but room service has a varied selection of food and drinks.
The interiors are minimal and contemporary, in keeping with the rest of the hotel. If you check in at night, it can be a struggle to achieve optimal lighting levels in the room, which is dimly lit yet beautifully replenished by sunlight during the day.
The service
Fifty per cent of the team is made up of Saudi nationals, including 63 women.
Checkout is quick and easy. However, it may be worth taking time to enjoy a coffee at Copa for those who wish to make the most of their rest and relaxation time by allowing the concierge team to load up the car.
It's easy to find transport to and from the hotel, using local taxis or transport apps.
The scene
Shangri-La's prime location allows guests to instantly connect with the palpable energy of Jeddah’s corniche.
The hotel's management is keen to align its mission with Saudi Vision 2030, which is apparent in the presence of Saudi staff, particularly women welcoming guests at the front desk. In this way, Shangri-La represents the changing landscape of the kingdom.
The newly opened Shang Palace is already popular among locals, while KAIA, the hotel's open-air pool terrace, is positioning itself as the city's next hotspot. It has live DJ performances and offers a variety of snacks, from sushi to nachos and speciality drinks.
Business and leisure travellers have access to state-of-the-art Technogym equipment in the gym, as well as a spa, jacuzzi, steam room, children's club for little ones and meeting rooms.
The food
Copa offers high tea, as well as coffee and artisanal chocolate pairings in the lobby. Waterfront Kitchen is the hotel's all-day dining buffet restaurant, offering a range of Mediterranean and Asian dishes, with live cooking stations, including shawarma, a Mongolian grill, a wood-fired pizza oven, a seafood counter, tandoor and Asian favourites.
Shang Palace is open and operating at full capacity at the weekend. When we visit during a service in full swing, packed, service is fast and the atmosphere is buzzing and lively. Shang Palace has Michelin-starred outposts in Singapore and Paris, and a total of 38 restaurants around the world serving its old-time Cantonese classics such as Peking duck and stir-fried wok dishes brimming with rich Chinese flavours. The restaurant's popular dim sum brunch is priced at SR188 ($50) and offers a main course and dessert in addition to unlimited dim sum.
Staff members are a mix of different nationalities with great knowledge of the menu. Sanjin Dilaver, the restaurant's manager, pops over to guests to ensure they are "more than just satisfied".
Highs and lows
The location is a winner for Shangri-La as it offers beautiful uninterrupted views of the Jeddah waterfront and is close to a host of restaurants, as well as the Red Sea Mall. The best offering is Shang Palace for hospitality and food. A plus for fitness enthusiasts is having the gym and spa that offers rejuvenating experiences including a Moroccan hammam for men and anti-ageing diamond life infusion facial treatment for women.
Even though rooms provide privacy, the interiors can seem dark and gloomy at night on account of the dim lighting, inspiring us to step out and soak in the energy of the city. The hotel is the complete opposite in the day – flooded with natural sunlight.
Being a city hotel, it is more suited to business or leisure travellers as opposed to a staycation destination for locals.
The insider tip
Valet parking for hotel guests, no matter how long you are staying, is chargeable. It is recommended that you make reservations at Shang Palace as the restaurant is full during the weekend.
The bottom line
Guest rooms fall into two main categories, superior and deluxe sea view, which start from $358 per night, including taxes. There are also one and two-bedroom apartment suites and a royal suite. Check-in is from 2pm and checkout is at noon.
Shangri-La hotel, Jeddah, Makkah Province, www.shangri-la.com/en/jeddah
- This review was conducted at the invitation of the hotel.
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
The drill
Recharge as needed, says Mat Dryden: “We try to make it a rule that every two to three months, even if it’s for four days, we get away, get some time together, recharge, refresh.” The couple take an hour a day to check into their businesses and that’s it.
Stick to the schedule, says Mike Addo: “We have an entire wall known as ‘The Lab,’ covered with colour-coded Post-it notes dedicated to our joint weekly planner, content board, marketing strategy, trends, ideas and upcoming meetings.”
Be a team, suggests Addo: “When training together, you have to trust in each other’s abilities. Otherwise working out together very quickly becomes one person training the other.”
Pull your weight, says Thuymi Do: “To do what we do, there definitely can be no lazy member of the team.”
THE RESULTS
5pm: Maiden (PA) Dh80,000 1,400m
Winner: Alnawar, Connor Beasley (jockey), Helal Al Alawi (trainer)
5.30pm: Maiden (PA) Dh80,000 1,400m
Winner: Raniah, Noel Garbutt, Ernst Oertel
6pm: Handicap (PA) Dh90,000 2,200m
Winner: Saarookh, Richard Mullen, Ana Mendez
6.30pm: Sheikh Zayed bin Sultan Al Nahyan Jewel Crown (PA) Rated Conditions Dh125,000 1,600m
Winner: RB Torch, Tadhg O’Shea, Eric Lemartinel
7pm: Al Wathba Stallions Cup Handicap Dh70,000 1,600m
Winner: MH Wari, Antonio Fresu, Elise Jeane
7.30pm: Handicap Dh90,000 1,600m
Winner: Mailshot, Royston Ffrench, Salem bin Ghadayer
COMPANY%20PROFILE
%3Cp%3EFounder%3A%20Hani%20Abu%20Ghazaleh%3Cbr%3EBased%3A%20Abu%20Dhabi%2C%20with%20an%20office%20in%20Montreal%3Cbr%3EFounded%3A%202018%3Cbr%3ESector%3A%20Virtual%20Reality%3Cbr%3EInvestment%20raised%3A%20%241.2%20million%2C%20and%20nearing%20close%20of%20%245%20million%20new%20funding%20round%3Cbr%3ENumber%20of%20employees%3A%2012%3C%2Fp%3E%0A
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EYango%20Deli%20Tech%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EUAE%0D%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%20%3C%2Fstrong%3E2022%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3ERetail%20SaaS%0D%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3ESelf%20funded%0D%3Cbr%3E%3C%2Fp%3E%0A
Retirement funds heavily invested in equities at a risky time
Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.
Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.
The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.
The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.
Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.
The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.
• Bloomberg
SERIES INFO
Schedule:
All matches at the Harare Sports Club
1st ODI, Wed Apr 10
2nd ODI, Fri Apr 12
3rd ODI, Sun Apr 14
4th ODI, Sun Apr 16
UAE squad
Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed
Zimbabwe squad
Peter Moor (captain), Solomon Mire, Brian Chari, Regis Chakabva, Sean Williams, Timycen Maruma, Sikandar Raza, Donald Tiripano, Kyle Jarvis, Tendai Chatara, Chris Mpofu, Craig Ervine, Brandon Mavuta, Ainsley Ndlovu, Tony Munyonga, Elton Chigumbura
New Zealand 15 British & Irish Lions 15
New Zealand 15
Tries: Laumape, J Barrett
Conversions: B Barrett
Penalties: B Barrett
British & Irish Lions 15
Penalties: Farrell (4), Daly
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
CABINET%20OF%20CURIOSITIES%20EPISODE%201%3A%20LOT%2036
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EGuillermo%20del%20Toro%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Tim%20Blake%20Nelson%2C%20Sebastian%20Roche%2C%20Elpidia%20Carrillo%3Cbr%3ERating%3A%204%2F5%3C%2Fp%3E%0A
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
